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OMB
Circular A-21
This
Circular establishes principles for determining costs applicable
to grants, contracts, and other agreements with educational institutions.
The principles deal with the subject of cost determination, and
make no attempt to identify the circumstances or dictate the extent
of agency and institutional participation in the financing of a
particular project.
The
principles are designed to provide that the federal government bear
its fair share of total costs, determined in accordance with generally
accepted accounting principles, except where restricted or prohibited
by law. Agencies are not expected to place additional restrictions
on individual items of cost. Provision for profit or other increment
above cost is outside the scope of this Circular.
For
more details on costs, please refer to OMB
Circular A21.
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